|
October 2008
Dear Colleague,
As we find ourselves starting
anew after the summer months, we are welcomed with much complexity and
challenge in the world of business, economics and government. When I began
writing my semi-annual Fall newsletter, I pondered the question of
sustainability during difficult and troubled times. Organizations that
focus on people practices as a strategic business imperative naturally survive
with a culture that embraces their human capital as their greatest asset.
Designing and implementing effective talent acquisition and talent management
practices ensures higher retention and engagement especially during trying
times.
In this spirit, Id like
to offer inspiring thoughts and words of encouragement. I find that most of us
remain active, busy and multi-tasking to meet the needs of our businesses,
clients, employees and/or other stakeholders. There is much consideration and
empathy for one another and collaboration is a high priority. As we continue to
band together, there has never been more of a time when its so critical
to be thoughtful, deliberate and strategic in our actions. All organizations
small, medium or large have the ability to develop and implement
talent management practices that are aligned with their organizational culture
and linked into their business goals and objectives. Retaining top
talent, critical skill-sets as well as up and coming potential is vital to the
success of every company especially within our global marketplace to
maintain competitive advantage.
What are some best practices
that enable organizations to have effective and successful talent management
efforts during the best and worst of times? According to an HR Management
Article, The Tipping Point for Talent Management by
David C. Foreman, Chief Learning Officer for The Human Capital Institute, there
is growing evidence showing a clear relationship between strong talent
practices and improved shareholder returns. It also states that successful
companies such as G.E., Microsoft, P&G, and Starbucks to name a few, truly
believe talent is the essence of their success and create best practices around
that belief. There is also a growing realization that talent issues are board
level issues resulting in closer analysis of engagement levels, turnover data
and development opportunities for top talent.
Id like to suggest the
following process as a starting point for creating such a strategy
4 Layers of Creating Effective Talent Management
Practices:
-
Due Diligence Process
Understand your organization first - define its mission,
values, competitive posture, culture, goals, objectives, and strategies. Then
assess your talent identify the existing competencies, skills, knowledge
and abilities needed to achieve those goals and whether they currently exist
within your organization. If they do not exist, where are the gaps and how will
you address those gaps? Lastly, investigate and assess the appropriate talent
management/career management initiatives that will begin to address those gaps
as well as extend the level of competency you strive to achieve and build for
the future. There are several initiatives to explore. The ones that are most
appropriate will be determined by your due diligence process.
-
Planning There are
many basics to ensure the proper planning takes place for creating and
implementing practices that will prepare your organization for the future.
Competency models and performance criteria for each role within your
organization is critical. In-house focus on the planning and development of
employee growth and progression is vital to the investment in your
organizations talent. Companies that proactively engage their employees
in continuous learning initiatives in a manner that embraces their involvement
and input increases their loyalty and commitment. Proactive learning and
development initiatives including career development, career planning, career
paths, employee development, and/or succession planning are crucial for
preparing your organization well into the future with the right competencies
and talent required to meet your business goals.
-
Development
Embracing ways to further the individual's personal and professional
development creates leaders at all levels of your organization. Management
coaching, mentors, advisors, effective performance management and feedback
programs, competitive reward systems, career centers and cross-functional
development programs are a few ways to achieve this kind of focus on leadership
development throughout your organization. Leaders exist at every level of an
organization and investing in the nurturing and development of that potential
is imperative for competitive advantage.
-
Engagement Organizations
that truly create and espouse a culture of employee engagement are continuously
evaluating/assessing their talent and empower them with the knowledge, ability
and authority to address areas for improvement with proactive, progressive and
immediate solutions. Engaging in diversity initiatives that truly embrace the
value of having differences in your organizations workforce, embodying
that message in their actions and creating best practices around your diversity
initiatives is a key driver for talent retention and talent management. Highly
effective rotational programs, flexible work arrangements and knowledge
management practices are other critical ways to have an impact on
organizational effectiveness and development. Keep ahead of your competition
and build a sustainable talent management process by building best practices
that adopt the notion that human capital is your best asset. Last but not
least, organizations that train their staff on networking and allow
opportunities for networking will stand ahead of their competition across all
venues business development, talent management, customer service,
employee relations, organizational development, ROI, market share and more.
I hope this starts the dialogue and would
love to hear your success stories or challenges with any of these talent
management practices. I feel very fortunate to say my business has continued to
thrive this year and much of the consulting and coaching work I do is around
these types of initiatives. I have had an increased demand in the areas of
management development, leadership development, as well as individual career
development. In addition, I continue to do a lot of management and executive
coaching with corporate clients as well as individual clients. I am pleased to
mention that I have a couple new articles to be published in upcoming issues of
Boston Women's Business journal, Best Practices Model
General Management, Communications and Effective Working Relationships
and NEHRAs Insights magazine, Leadership
Best Practices for Unleashing Leadership Potential in
Everyone. In addition, I have a couple of upcoming presentations
for local professional associations on the topics of Conflict
Management and Talent Management Practices
Preparing for the Future. Please visit my website for more
details at www.ritaballenassociates.com
As always, I thank you all for your
continued support and encouragement, your business and your referrals! I
welcome the opportunity to be of assistance and continuing to provide a variety
of career management/talent management services. I look forward to staying in
touch and hearing about your recent updates.
Best Regards,
Rita B. Allen
Rita B. Allen Associates
| 460 Totten Pond Road, Suite 190
| Waltham, MA 02451 781-890-6803
|
rita@ritaballenassociates.com
|
www.ritaballenassociates.com
|